Attached files
| file | filename |
|---|---|
| 8-K - 8-K - LOUISIANA-PACIFIC CORP | a033013lpx8k.htm |
| EX-99.1 - EXHIBIT 1 - LOUISIANA-PACIFIC CORP | q12013pressrelease.htm |
| EX-99.3 - EXHIBIT 3 - LOUISIANA-PACIFIC CORP | a033013lpxisreconciliation.htm |
Exhibit 99.2 Reconciliation of EBITDA from continuing operations and Adjusted EBITDA from continuing operations for the quarter ended March 31, 2013 and 2012.
Three Months Ended March 31, 2013 (Dollar amounts in millions) | OSB | Siding | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Sales | $ | 286.7 | $ | 133.8 | $ | 63.4 | $ | 45.1 | $ | 9.1 | $ | (0.6 | ) | $ | 537.5 | ||||||||||||
Depreciation and amortization | 8.4 | 3.9 | 3.3 | 2.6 | 0.1 | 0.4 | 18.7 | ||||||||||||||||||||
Cost of sales and selling and administrative | 188.2 | 109.2 | 63.4 | 36.3 | 9.3 | 21.6 | 428.0 | ||||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 1.6 | 1.6 | ||||||||||||||||||||
Total operating costs | 196.6 | 113.1 | 66.7 | 38.9 | 9.4 | 23.6 | 448.3 | ||||||||||||||||||||
Income (loss) from operations | 90.1 | 20.7 | (3.3 | ) | 6.2 | (0.3 | ) | (24.2 | ) | 89.2 | |||||||||||||||||
Total non-operating expense | — | — | — | — | — | (7.8 | ) | (7.8 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in (income) loss of unconsolidated affiliates | 90.1 | 20.7 | (3.3 | ) | 6.2 | (0.3 | ) | (32.0 | ) | 81.4 | |||||||||||||||||
Provision for income taxes | — | — | — | — | — | 23.2 | 23.2 | ||||||||||||||||||||
Equity in (income) loss of unconsolidated affiliates | (8.0 | ) | — | 0.2 | — | 0.6 | — | (7.2 | ) | ||||||||||||||||||
Income (loss) from continuing operations | $ | 98.1 | $ | 20.7 | $ | (3.5 | ) | $ | 6.2 | $ | (0.9 | ) | $ | (55.2 | ) | $ | 65.4 | ||||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | 98.1 | $ | 20.7 | $ | (3.5 | ) | $ | 6.2 | $ | (0.9 | ) | $ | (55.2 | ) | $ | 65.4 | ||||||||||
Provision for income taxes | — | — | — | — | — | 23.2 | 23.2 | ||||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 10.6 | 10.6 | ||||||||||||||||||||
Depreciation and amortization | 8.4 | 3.9 | 3.3 | 2.6 | 0.1 | 0.4 | 18.7 | ||||||||||||||||||||
EBITDA from continuing operations | 106.5 | 24.6 | (0.2 | ) | 8.8 | (0.8 | ) | (21.0 | ) | 117.9 | |||||||||||||||||
Stock based compensation expense | 0.2 | 0.1 | 0.1 | — | — | 1.7 | 2.1 | ||||||||||||||||||||
Investment income | — | — | — | — | — | (3.5 | ) | (3.5 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | 1.6 | 1.6 | ||||||||||||||||||||
Depreciation included in equity in (income) loss of unconsolidated affiliates | 2.0 | — | — | — | 0.8 | — | 2.8 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 108.7 | $ | 24.7 | $ | (0.1 | ) | $ | 8.8 | $ | — | $ | (21.2 | ) | $ | 120.9 | |||||||||||
Three Months Ended March 31, 2012 (Dollar amounts in millions) | OSB | Siding | EWP | South America | Other | Corporate | Total | ||||||||||||||||||||
Sales | $ | 149.0 | $ | 113.1 | $ | 48.6 | $ | 42.4 | $ | 10.0 | $ | (1.6 | ) | $ | 361.5 | ||||||||||||
Depreciation and amortization | 8.7 | 4.2 | 2.8 | 2.9 | 0.2 | 0.3 | 19.1 | ||||||||||||||||||||
Cost of sales and selling and administrative | 139.4 | 92.1 | 48.6 | 36.4 | 9.9 | 18.2 | 344.6 | ||||||||||||||||||||
Loss on sale or impairment of long lived assets | — | — | — | — | — | 0.1 | 0.1 | ||||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | (0.2 | ) | (0.2 | ) | ||||||||||||||||||
Total operating costs | 148.1 | 96.3 | 51.4 | 39.3 | 10.1 | 18.4 | 363.6 | ||||||||||||||||||||
Income (loss) from operations | 0.9 | 16.8 | (2.8 | ) | 3.1 | (0.1 | ) | (20.0 | ) | (2.1 | ) | ||||||||||||||||
Total non-operating expense | — | — | — | — | — | (8.5 | ) | (8.5 | ) | ||||||||||||||||||
Income (loss) before income taxes and equity in loss of unconsolidated affiliates | 0.9 | 16.8 | (2.8 | ) | 3.1 | (0.1 | ) | (28.5 | ) | (10.6 | ) | ||||||||||||||||
Benefit for income taxes | — | — | — | — | — | (1.2 | ) | (1.2 | ) | ||||||||||||||||||
Equity in loss of unconsolidated affiliates | 1.2 | — | — | — | 0.6 | — | 1.8 | ||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.3 | ) | $ | 16.8 | $ | (2.8 | ) | $ | 3.1 | $ | (0.7 | ) | $ | (27.3 | ) | $ | (11.2 | ) | ||||||||
Reconciliation of income (loss) from continuing operations to adjusted EBITDA from continuing operations | |||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.3 | ) | $ | 16.8 | $ | (2.8 | ) | $ | 3.1 | $ | (0.7 | ) | $ | (27.3 | ) | $ | (11.2 | ) | ||||||||
Benefit for income taxes | — | — | — | — | — | (1.2 | ) | (1.2 | ) | ||||||||||||||||||
Interest expense, net of capitalized interest | — | — | — | — | — | 12.6 | 12.6 | ||||||||||||||||||||
Depreciation and amortization | 8.7 | 4.2 | 2.8 | 2.9 | 0.2 | 0.3 | 19.1 | ||||||||||||||||||||
EBITDA from continuing operations | 8.4 | 21.0 | — | 6.0 | (0.5 | ) | (15.6 | ) | 19.3 | ||||||||||||||||||
Stock based compensation expense | 0.2 | 0.1 | 0.2 | — | — | 2.2 | 2.7 | ||||||||||||||||||||
Loss on sale or impairment of long lived assets | — | — | — | — | — | 0.1 | 0.1 | ||||||||||||||||||||
Investment income | — | — | — | — | — | (4.2 | ) | (4.2 | ) | ||||||||||||||||||
Other operating credits and charges, net | — | — | — | — | — | (0.2 | ) | (0.2 | ) | ||||||||||||||||||
Depreciation included in equity in loss of unconsolidated affiliates | 2.0 | — | 0.1 | — | 1.0 | — | 3.1 | ||||||||||||||||||||
Adjusted EBITDA from continuing operations | $ | 10.6 | $ | 21.1 | $ | 0.3 | $ | 6.0 | $ | 0.5 | $ | (17.7 | ) | $ | 20.8 | ||||||||||||